[Congressional Record Volume 151, Number 38 (Wednesday, April 6, 2005)]
[House]
[Page H1787]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            SOCIAL SECURITY

  (Mr. HENSARLING asked and was given permission to address the House 
for 1 minute and to revise and extend his remarks.)
  Mr. HENSARLING. Mr. Speaker, Social Security has been a vital program 
for America's retirees for many years. Unfortunately, it is a system 
that was designed in 1935, not 2005.
  I have a personal stake in Social Security. My parents are in their 
70s. They depend upon Social Security as part of their retirement. But 
I am also the father of two small children, and I owe them no less 
retirement security tomorrow than my parents enjoy today.
  Unfortunately, fewer workers, more retirees, and longer life spans 
will bankrupt Social Security. We must work together to save the 
system, which can be done without changing benefits or raising taxes on 
current and near retirees. Instead, we can give younger workers the 
opportunity to voluntarily invest some of their payroll taxes in 
personal retirement accounts that they can own, which will grow over 
time and which Washington cannot take away.
  By allowing them to do this and build their own nest eggs, and by 
protecting the Social Security surpluses from being raided in 
Washington, we can keep the promise of Social Security for the next 
generation of Americans.

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